Invest Like the Best with Patrick O'Shaughnessy

Scott Davis & Rob Wertheimer - Lessons from the Industrial Titans - [Invest Like the Best, EP.324]

191 snips
Apr 11, 2023
Scott Davis and Rob Wertheimer, heads of Melius Research and authors of "Lessons from the Titans," share insights on what modern businesses can learn from industrial giants. They discuss essential strategies for long-term value creation, the importance of aligning financial metrics with corporate narratives, and the balance between innovation and immediate needs in R&D. The duo emphasizes the need for accountability and solid company culture while navigating corporate transitions, using real-world examples to illustrate key points on adaptability and performance improvement.
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INSIGHT

Tech Sector Arrogance

  • The tech sector's arrogance and "this time it's different" mentality led to repeating past mistakes of industrial companies.
  • Operational excellence, strong culture, and smart capital allocation are crucial for long-term success.
INSIGHT

Arrogance and Failure

  • Arrogance, often from leadership, can erode company culture and lead to failure.
  • Most companies fail over time; focus on continuous improvement and filtering out destructive individuals.
ANECDOTE

Honeywell's Turnaround

  • Honeywell's 2003 near-death experience showcased a complex turnaround led by Dave Cote.
  • Cote had to rebuild culture, operations, customer relationships, and R&D in a short timeframe.
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